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The Critic (Digital)

The Critic (Digital)

1 Issue, April 2024

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Out with the old and in with the new

Rufus Bird asks why the market for classic art is shrinking
Out with the old and in with the new
LAST MONTH I WROTE ABOUT how the marketeers at the auction houses have pushed luxury brands as the “gateway drug” for new buyers coming into the art market. However, it remains to be seen in what direction these new Hermès handbag-toting buyers will go. Will they gravitate toward the flashy, fun, and largely conceptual (and intellectually open) area of contemporary art, such as the insanely popular works by Yayoi Kusama, or perhaps the downright hip street works by Rashid Johnson? Maybe they will find their happiness in eighteenth-century European furniture and ceramics, seventeenth-century Italian paintings or sculpture? My money is on the former, though my preference is for the latter. The rise and rise in the size and value of the contemporary art market has continued (with a major dip…
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The Critic (Digital) - 1 Issue, April 2024

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